When Sir Alex Ferguson opens his chequebook this summer it won’t just be to replace the ageing limbs in his squad – but to ensure his legacy.

After two summers of relative austerity at Old Trafford, the end of the season is expected to see the type of recruitment drive that has been the hallmark of Ferguson’s incredible reign.

Even after United’s parent company Red Football Joint Venture announced losses of £108.9m this week, the club has put aside as much as £165m for transfers.

Ferguson is unlikely to require that much but he has drawn up an extensive list of the best young prospects in Britain and abroad as he plans to assemble a squad that will keep United challenging at the top beyond his retirement.

Notably, he is targeting players several years before their peak in the hope of avoiding inflated price tags or being caught up in bidding wars with Europe’s biggest clubs.

That policy has already paid dividends with the acquisitions of Javier Hernandez and Chris Smalling last year – who, at a combined £17m, look like being the bargains of the season.

Crucially, both players will develop at Old Trafford – much in the same way as Cristiano Ronaldo, Wayne Rooney and Nani.

And that is the blueprint Ferguson will stick to when he rebuilds this summer.

Young, who Ferguson tried unsuccessfully to sign in January, is the oldest member of that list at 25. German international goalkeeper Neuer is 24.

None of the others are above the age of 21, suggesting Ferguson is about to embark on his biggest injection of youth since thrusting David Beckham, Paul Scholes, Nicky Butt and the Nevilles into his squad in 1995.

With Danny Welbeck (20), Tom Cleverley (21) and Federico Macheda (19) also due to return from loan spells at the end of the season, the average age of the squad is set to plummet. Ferguson has spent the past two summers complaining of a lack of value in the transfer market.

Attempts to sign Karim Benzema and David Villa were thwarted by Spanish giants Real Madrid and Barcelona respectively. But the United manager recognises the need to strengthen for next season with Ryan Giggs and Paul Scholes not expected to play on beyond 2012.

With increasing fears that Owen Hargreaves will lose his battle to save his career, Rio Ferdinand having his own injury concerns, Gary Neville announcing his retirement and Edwin van der Sar due to hang up his gloves in the summer – the need for new blood is evident.

That will come at a significant cost but Ferguson is determined to look long-term.

United are confident Aston Villa’s England winger Young will join them at the end of the season for around £13m.

Bid

They also believe a bid in the region of £15m-£20m will be enough to prise Rodwell from Everton.

Ferguson is drawn to the 20-year-old’s versatility as a central midfielder or central defender and knows David Moyes will have to sell if the price is right.

He has also asked to be kept informed about Sunderland and England midfielder Henderson, who again should be available for around £15m.

Bale is the man Ferguson sees as the ready-made replacement for Giggs but knows that Harry Redknapp would demand in excess of £30m to let go of his star asset, who signed a four-year deal with Spurs last week. That could prove too much for United but, as they proved with a move for Villa last summer, they are still willing to break the bank for the biggest names.

Brazilian Costa of Shakhtar Donetsk is a player Ferguson considered when still in his homeland with Gremio – and his form since moving to Europe has only intensified his interest.

The 20-year-old is being labelled an ideal successor for Scholes – but United believe Cleverley could yet fill that role when he returns from Wigan.

Southampton’s exciting midfielder Oxlade-Chamberlain could cost as much as £10m, with Neuer at the top of a list of potential replacements for Van der Sar.

By the end of the summer, Ferguson hopes to have assembled the nucleus of a squad that will continue to win trophies over the next five or six years.

Despite still being in the hunt for the Treble of the Premier League, Champions League and FA Cup, he has concerns about the depth of his squad.

He watched as his fringe players were humbled 4-0 by West Ham in the Carling Cup earlier on in the season and then struggled to a 1-0 win over Crawley in the FA Cup.

It has led to fresh doubts that there is enough talent coming through to fill the void when Giggs and Scholes step down.

Ferguson has never been afraid to make bold changes to his squad when he feels it is time to rebuild. He signed Neil Webb, Paul Ince, Gary Pallister, Danny Wallace and Mike Phelan in his first major spending spree at United in 1989.